On the recordMay 13, 2008
In 2000, as we have already heard, the prices fell by one-third, and they stayed low. Suspending the SPR will put an additional 70,000 barrels of oil on the market each day. It could help reduce prices at a critical time for us in our economy. This action has widespread bipartisan support. It was supported by a near unanimous support by the Senate this morning. I got a letter a few minutes ago from the American Trucking Association saying that the additional $391 million that truckers are having to pay for diesel cannot be handled by them for long. So I'm pleased that we are taking at least the first step. And I am looking forward to introducing other legislation later this week that's going to provide additional relief to consumers to provide and invest in our energy independence through research and development.
Source
govinfo.gov
